The Confederation of All India Traders (CAIT) on Friday said that more than 10 lakh traders will join in a "Protest Dharna" at 1,000 locations across the country against the Walmart-Flipkart deal on July 2.

In a joint statement, the confederation's National President B.C. Bhartia and Secretary General Praveen Khandelwal said: "e-Commerce market place has been vitiated to a great extent in past years by several leading e-Commerce companies by indulging into all kinds of mal-practices including predatory pricing, deep discounting and loss funding".

"The Walmart Flipkart Deal will prove to be one step further in capturing the retail trade through the passage of e-Commerce," the statement said.

"Particularly at a time when there is no policy of e-Commerce, it would be a cake walk for Walmart to circumvent the FDI policy... of 2016. Therefore stiff and strong opposition to this deal is necessary to protect retail trade of India."

The confederation has already approached the Competition Commission of India (CCI) against the deal and "if need arises we shall challenge the deal in court of law including highest court".

Saturday, 23 June 2018

* Nifty continued its sideways bias for most part of the week however surge on Friday aided index to end on flat note. Meanwhile, broader market remained under pressure as a result both midcap and small cap index ended in red.

* In the coming week, we expect Nifty to maintain the positive bias however volatility will inch higher on stocks specific front due to expiry of June month derivatives contracts.

* Considering all, traders should focus more on the trade management and avoid overleveraging. Investors, on the other hand, should use this phase to gradually add quality stocks on every dips.